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Market Close 5 July 24: Market jitters ahead of US jobs data and French election
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The Aussie market dipped slightly today despite a generally strong week, bolstered by a 1.2% rise the previous day. The market's directionless nature was partly due to the US market being closed for the Independence Day holiday. However, expectations of a US rate cut in September, following soft economic data, provided some optimism. Mining stocks, driven by rising commodity prices, performed well, while Magellan and BHP also saw significant activity. Looking ahead, key events such as nonfarm payrolls in the US and French parliamentary elections are anticipated to influence market movements.
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